Updated Duplex with Separate
For Sale
$239,900
302-304 Bluff Street, Beloit, WI 53511
Two residential units offer separate basements and utilities, along with recent improvements to major building systems.
Property Size2,314 SF
Price / SF$103.67
Days on Market199
Property Features for 302-304 Bluff Street
General Information
Standard status
Active
Size
2,314 SF
Property subtype
Multi Family / 2 story
Zoning
R
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,460
Amenities
Full, Other foundation
Other
Lower unit washer and dryer.
Refrigerator (2), Oven/Range (2), Washer/Dryer (1 each)
1
2
Vinyl
Building Details
Year Built
1885
Buildings
1
Units
2
Listing Agency:
Re/Max Ignite
(608) 312-4433
Listed By:
Colin Schindler · License #475193933
(608) 312-4433
Source:
Compass
Added: Feb 14
Changed: Aug 31
Last Checked: Aug 31 at 2:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Re/Max Ignite
Investment Insights
Based on property information with market context.
This duplex contains two residential units with independent basements and separate utilities. The lower apartment is heated by a gas furnace, while the upper apartment uses a boiler. One unit includes a washer and dryer, and the property has two refrigerators and two oven/ranges. Vinyl siding completes the exterior.
Recent work includes refurbishment of the upper unit, installation of a new roof and gutters, replacement of the water service, and newer windows. The building was constructed in 1885 and is zoned R. Located at 302-304 Bluff Street in Beloit, the property overlooks ABC Supply Stadium.
Recent work includes refurbishment of the upper unit, installation of a new roof and gutters, replacement of the water service, and newer windows. The building was constructed in 1885 and is zoned R. Located at 302-304 Bluff Street in Beloit, the property overlooks ABC Supply Stadium.
Key Highlights
- Duplex with 2 residential units and separate utilities
- Separate basement areas serve the two units
- Upper unit has been fully refurbished
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,347
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$426,940
$426.9K
Cap Rate 7%
$304,957
$305.0K
Cap Rate 9%
$237,189
$237.2K
Market Conditions
NOI Build-Up for 2,314 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.9K $13.80/SF
− Vacancy
−$1.4K −$0.62/SF
EGI
$30.5K $13.18/SF
− OpEx
−$9.1K −$3.95/SF
NOI
$21.3K $9.23/SF
Area
Rock County, WI
Vacancy
4.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$426,940
Cap Rate 7%
$304,957
Cap Rate 9%
$237,189
Alternative Uses
Best Use
Multifamily LT 5
$305.0K
$266.8K – $355.8K
NOI $21,347 @ 7.0% cap · market cap 8.90%
Second Best
Apartment 5plus
$268.1K
$234.6K – $312.8K
NOI $18,767 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$556.1K
$486.6K – $648.8K
NOI $38,925 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
682
Businesses Nearby
Explore this area
Business Placement
Demographics for 53511, WI
48,659
Population
19,372
Households
2.5
Avg Household Size
38
Median Age
19%
College-Educated
89%
High-School Grad
114.9 sq mi
ZIP Area
423
Density / Sq Mi
$65,305
Median Household Income
$39,344
Median Earnings
$995
Median Rent
$160,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate basements and utilities, along with recent improvements to major building systems.
Where is this duplex located?
The property is located at 302-304 Bluff Street Beloit, WI.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Duplex with 2 residential units and separate utilities; Separate basement areas serve the two units; Upper unit has been fully refurbished
